Common use of No Petition Clause in Contracts

No Petition. Each party agrees that, before the date that is one year and one day (or, if longer, any applicable preference period) after the payment in full of (a) all Secured Obligations, including all Exchange Notes, and any other Securities, (b) all securities issued by the Depositor or by a trust for which the Depositor was a depositor or (c) the Notes, it will not start or pursue against, or join any other Person in starting or pursuing against, (i) either Titling Company or either Holding Company, (ii) the Depositor or (iii) the Issuer, respectively, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other proceedings under any bankruptcy or similar law. This Section 6.4 will survive the termination of this Agreement.

Appears in 91 contracts

Sources: Account Control Agreement (Ford Credit Auto Lease Trust 2026-B), Account Control Agreement (Ford Credit Auto Lease Trust 2026-B), Account Control Agreement (Ford Credit Auto Lease Trust 2026-A)

No Petition. Each party of the parties agrees that, before the date that is one year and one day (or, if longer, any applicable preference period) after the payment in full of (a) all Secured Obligations, including all Exchange Notes, and any other Securities, (b) all securities issued by the Depositor or by a trust for which the Depositor was a depositor or (c) the Notes, it will not start or pursue against, or join any other Person in starting or pursuing against, (i) either Titling Company or either Holding Company, (ii) the Depositor or (iii) the Issuer, respectively, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other proceedings under any bankruptcy or similar law. This Section 6.4 6.2 will survive the termination of this Agreement.

Appears in 47 contracts

Sources: Asset Representations Review Agreement (Ford Credit Auto Lease Trust 2026-B), Asset Representations Review Agreement (Ford Credit Auto Lease Trust 2026-A), Asset Representations Review Agreement (Ford Credit Auto Lease Trust 2026-A)

No Petition. Each party agrees that, before the date that is one year and one day (or, if longer, any applicable preference period) after the payment in full of (a) all Secured Obligations, including all Exchange Notes, and any other Securities, (b) all securities issued by the Depositor or by a trust for which the Depositor was a depositor or (c) the Notes, it will not start or pursue against, or join any other Person in starting or pursuing against, (i) either Titling Company or either Holding Company, (ii) the Depositor or (iii) the Issuer, respectively, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other proceedings under any bankruptcy or similar law. This Section 6.4 5.2 will survive the termination of this Agreement.

Appears in 46 contracts

Sources: Exchange Note Sale Agreement (Ford Credit Auto Lease Trust 2026-B), Exchange Note Sale Agreement (Ford Credit Auto Lease Trust 2026-A), Exchange Note Sale Agreement (Ford Credit Auto Lease Trust 2026-A)

No Petition. Each party agrees that, before the date that is one year and one day (or, if longer, any applicable preference period) after the payment in full of (a) all Secured Obligations, including all Exchange Notes, and any other Securities, (b) all securities issued by the Depositor or by a trust for which the Depositor was a depositor or (c) the Notes, it will not start or pursue against, or join any other Person in starting or pursuing against, (i) either Titling Company or either Holding Company, (ii) the Depositor or (iii) the Issuer, respectively, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other proceedings under any bankruptcy or similar law. This Section 6.4 7.1 will survive the termination of this AgreementSupplement.

Appears in 45 contracts

Sources: Servicing Supplement (CAB East LLC), Servicing Supplement (CAB East LLC), Servicing Supplement (Ford Credit Auto Lease Trust 2026-B)

No Petition. Each party agrees that, before the date that is one year and one day (or, if longer, any applicable preference period) after the payment in full of (a) all Secured Obligations, including all Exchange Notes, and any other Securities, (b) all securities issued by the Depositor or by a trust for which the Depositor was a depositor or (c) the Notes, it will not start or pursue against, or join any other Person in starting or pursuing against, (i) either Titling Company or either Holding Company, (ii) the Depositor or (iii) the Issuer, respectively, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other proceedings under any bankruptcy or similar law. This Section 6.4 4.4 will survive the termination of this Agreement.

Appears in 44 contracts

Sources: Administration Agreement (Ford Credit Auto Lease Trust 2026-B), Administration Agreement (Ford Credit Auto Lease Trust 2026-A), Administration Agreement (Ford Credit Auto Lease Trust 2026-A)